Weekly Blogs

Silver crosses 90,000/kg, what next?

Weekly Blog

Silver is making a move, greatly outperforming gold as it trades at an 11-year high to approach $31.85, following a comparatively modest start in the first quarter. Silver is following in the footsteps of gold and copper.

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Precious Metals stays elevated

Weekly Blog

After this week’s price correction in Gold and Silver, oscillators are in the mid-zone now, after trading in the overbought zone for 20-25 days. As forecasted, Gold and Silver have seen healthy correction after a sharp run. Now further trends would be decided purely on the fundamentals, which are bullish.

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Target $27 achieved in Silver; what next?

Weekly Blog

This week saw a significant bullish breakthrough in the price of silver, aided by gold’s record-breaking surge. Silver prices are surging and have reached a two-year high of $27.43 in the International market and a record-high level of Rs 81350 in domestic markets.

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After the record rally, what’s next?

Weekly Blog

Central bank meetings and significant price volatility for precious metals characterized this week. Gold prices have corrected and retraced towards $2160 (~Rs 65600) after touching record highs. Strong support lies at $2150 (~Rs 65000), which is likely to act as a base. While Silver is back below $25 (~ 75000) after almost touching the high resistance area of $26 (~Rs 77000).

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Do precious metals have fuel left in their tank?

Weekly Blog

Even if the gold market is now taking a little breath, there is still a lot of fuel remaining in the tank if recent consolidation is any guide. While gold prices have reached all-time highs due to unprecedented speculative bullish bets, holdings in ETFs backed by gold are hovering around multi-year lows and this will keep supporting gold’s long-term upward trend.

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Why is gold rising “Hand over Fist”?

Weekly Blog

The gold price has reached a new high above $2200 (~Rs 66000) due to rising estimates of Federal Reserve rate cuts in June and uncertain global growth prospects. The rally has been very sharp and like “Hand over Fist” which means “quickly or rapidly”.

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Gold and Silver is not out of range yet

Weekly Blog

While the gold and silver markets ended the week with slight gains, they remain trapped in their weeks-long channel, with resistance above $2060 and $23.5, respectively, holding firm. For the next week, Gold is expected to continue its rangebound momentum from Rs 61000 to Rs 64000, while Silver is expected to trade in a range of Rs 70500 to Rs 73500.

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Gold is an alligator lying in the water

Weekly Blog

For the past few weeks, Gold has been acting like an alligator lying in the water, waiting for its prey. Gold is trading in a tight range as the Federal Reserve lays the basis for future rate decreases while pushing back on the start of the easing cycle. Markets now expect the Fed to lower interest rates in May.

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